Zacks: Brokerages Expect NuVasive, Inc. (NASDAQ:NUVA) Will Post Quarterly Sales of $258.85 Million
Brokerages predict that NuVasive, Inc. (NASDAQ:NUVA) will report $258.85 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for NuVasive’s earnings, with estimates ranging from $255.70 million to $262.30 million. NuVasive posted sales of $239.65 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The business is expected to announce its next earnings results on Tuesday, October 24th.
On average, analysts expect that NuVasive will report full year sales of $258.85 million for the current year, with estimates ranging from $1.06 billion to $1.07 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.16 billion per share, with estimates ranging from $1.15 billion to $1.19 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow NuVasive.
NuVasive (NASDAQ:NUVA) last released its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $260.60 million for the quarter, compared to the consensus estimate of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. NuVasive’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share.
NUVA has been the topic of several recent analyst reports. Barclays PLC increased their target price on shares of NuVasive from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 24th. Canaccord Genuity reissued a “buy” rating and set a $84.00 target price (up from $82.00) on shares of NuVasive in a research note on Wednesday, April 26th. Zacks Investment Research raised shares of NuVasive from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. TheStreet raised shares of NuVasive from a “c+” rating to a “b” rating in a research note on Wednesday, May 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $76.00 target price on shares of NuVasive in a research note on Monday, May 15th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. NuVasive has a consensus rating of “Buy” and a consensus price target of $81.18.
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In other NuVasive news, EVP Peter Michael Leddy acquired 7,850 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $63.88 per share, for a total transaction of $501,458.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 4.70% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Miles Capital Inc. increased its stake in NuVasive by 0.3% in the first quarter. Miles Capital Inc. now owns 3,118 shares of the medical device company’s stock worth $233,000 after buying an additional 8 shares during the last quarter. Teacher Retirement System of Texas increased its stake in NuVasive by 1.0% in the second quarter. Teacher Retirement System of Texas now owns 4,040 shares of the medical device company’s stock worth $311,000 after buying an additional 40 shares during the last quarter. US Bancorp DE increased its stake in NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock worth $180,000 after buying an additional 41 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in NuVasive by 0.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,720 shares of the medical device company’s stock worth $651,000 after buying an additional 43 shares during the last quarter. Finally, World Asset Management Inc increased its stake in NuVasive by 2.3% in the first quarter. World Asset Management Inc now owns 3,117 shares of the medical device company’s stock worth $233,000 after buying an additional 69 shares during the last quarter.
NuVasive (NASDAQ NUVA) opened at 63.88 on Friday. The company’s 50-day moving average price is $74.06 and its 200 day moving average price is $74.04. NuVasive has a 52-week low of $56.70 and a 52-week high of $81.68. The stock has a market capitalization of $3.25 billion, a P/E ratio of 100.60 and a beta of 1.06.
NuVasive Company Profile
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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